Hey guys , right so another much needed break for me which was lovely, I tend to switch off while Im away and not trade , as I feel its good to reset the batteries, clear the head, and be in the moment of your holiday its important ....Anyone else on holiday or going away do share :)
Anyway that aside this was flagged on the 12/6/17 please see previous post:
It hit the 0.786 fib line when it got our attention, since then it has jumped 100 pips but the rally has been running out of steam , you can see it has been progressively making lower highs and bouncing off the trend line resistance .
The RBNZ was upbeat and kept the rates on hold, so this is propping this up right now and probably will for a bit, in my opinion the NZD has enjoyed some gains over the coming weeks against its crosses and is really at the top end of its value , so for this reason I want it to hit our confluence zone of between
0.7300-0.7320 before going short to safe guard us against a short sharp retrace rally, or a stops spike .
Entry @ 0.7300-0.7320
Stop set @ 0.74 well out the way Last high of NOVEMBER, and important to note above the trend line resistance.
TP @ 0.7440
Happy Trading guys and have a great weekend and if your on holiday enjoy it ......................
Anyway that aside this was flagged on the 12/6/17 please see previous post:
It hit the 0.786 fib line when it got our attention, since then it has jumped 100 pips but the rally has been running out of steam , you can see it has been progressively making lower highs and bouncing off the trend line resistance .
The RBNZ was upbeat and kept the rates on hold, so this is propping this up right now and probably will for a bit, in my opinion the NZD has enjoyed some gains over the coming weeks against its crosses and is really at the top end of its value , so for this reason I want it to hit our confluence zone of between
0.7300-0.7320 before going short to safe guard us against a short sharp retrace rally, or a stops spike .
Entry @ 0.7300-0.7320
Stop set @ 0.74 well out the way Last high of NOVEMBER, and important to note above the trend line resistance.
TP @ 0.7440
Happy Trading guys and have a great weekend and if your on holiday enjoy it ......................
Note
Okay so overnight NZ trade balance missed , but more importantly USD core and durable goods figs missed considerably . What does this mean, well In my opinion the NZD should hang around our confluence zone for a bit, especially off the back of the CNY Premier LI comments about the economy, this will help boost both AUD and NZD for now . We have set an entry of 0.7320 but may move it higher up today,
To possibly 0.7330-0.7350
Will keep you posted , happy trading people
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.